[PhilosopherStones]

So Obambi gets advice from the biggest enablers of the current crisis (Dodd, Frank, Billy Jeff, Schumer and Harry "we don't know what to do" Reid).

Wonder what they talked about. Hmm...

[jayef]

I thought he crossed party lines to work on solutions for problems. That’s what he told Steve Croft. Of course Croft never followed up and asked for one example of his having done that. Doesn’t look like he’s doing that in this situation either.

[Right Brother]

[DataDink]

Notice how all of his advisers were Dems. This could be used as another example of how he fails to “reach across the isle”. Didn’t Bush have some Dems in his meeting where his plan was spawned? This should be an ad for McCain. The biggest gainers of Fannie and Freddie promising everything to everyone with no way of paying for it.

[Nevermore]

Obama has spoken on the phone with House Speaker Nancy Pelosi, Senate Majority Leader Harry Reid, Senate Banking Committee chairman Chris Dodd, Rep. Barney Frank, Sen. Chuck Schumer, Rep. Ralph Emmanuel, former President Bill Clinton and Sen. Hillary Clinton...the conversations were about devising a "quick, bipartisan solution" to the economic crisis

>Do these people bother to think about what they're saying?!!

[farmer18th]

Barney Frank knows a lot about small business. In addition to the banking committee, doesn’t he run a massage parlor of some sort?

[DataDink]

I did some research on the bill that could have saved us all from this mess. It was S. 190 from the 109th Congress. Sponsored by Sen Hagel and co-sponsored by Sen Dole, Sen McCain and Sen Sununu.

Federal Housing Enterprise Regulatory Reform Act of 2005 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish:

(1) in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency which shall have authority over the Federal Home Loan Bank Finance Corporation, the Federal Home Loan Banks, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac);and (2) the Federal Housing Enterprise Board.

Sets forth operating, administrative, and regulatory provisions of the Agency, including provisions respecting: (1) assessment authority; (2) authority to limit nonmission-related assets; (3) minimum and critical capital levels; (4) risk-based capital test; (5) capital classifications and undercapitalized enterprises; (6) enforcement actions and penalties; (7) golden parachutes; and (8) reporting.

Amends the Federal Home Loan Bank Act to establish the Federal Home Loan Bank Finance Corporation. Transfers the functions of the Office of Finance of the Federal Home Loan Banks to such Corporation.

Excludes the Federal Home Loan Banks from certain securities reporting requirements.

Abolishes the Federal Housing Finance Board.

Here is a summary of all of the activity on this bill:
1/26/2005: Sponsor introductory remarks on measure. (CR S599-600)
1/26/2005: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
7/28/2005: Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.

It seems to have died in Sen Dodd's committee.

To read more, click here

Anybody see Zero's name anywhere near this bill? I didn't think so either.

[Walmartian]

We cannot have a plan for Wall Street banks that does not help homeowners stay in their homes and help distressed communities.

Wasn't it the home owners not paying their mortgages that got us into this mess?